Today price reach lower trend line of descending wedge and reject it.

eurjpy-d

I’m expecting that price will go up and retest 133.40 even area and 38.2% Fibonacci retrace of last down move. There I will look for sell signal. If there we will not get sell signal, then other option will be at trend line intersection and 78.6% Fibonacci retrace. Stochastics is in oversold territory and is trying to cross up again. So this suggest higher price in the near future.
There is Japan Monetary Policy Statement news ahead of us which could bring some volatility to the market. If there will be talking about further QE, then this pair could go up temporary.

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